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Rating agencies have become more conservative in assigning corporate credit ratings over the period 1985 to 2009, holding firm characteristics constant, avarage ratings have dropped by three notches..Printed Journal
The financial crisis of 2008 and the resulting recession caught many companies unprepared and, in so doing, provided a stark reminder of the importance of effective risk management. While academic theory has long touted the benefits of risk management, companies have varied greatly in the ways and extent to which they put theory into practice. Drawing on a global survey of over 300 CFOs of non-…